US sees record slowdown in home prices ...Middle East

The Hill - News

U.S. home prices saw a record slowdown in August, falling by 2.6 percent as the Federal Reserve moves aggressively to raise rates — making it more costly to afford a mortgage. The S&P CoreLogic Case-Shiller Index released Tuesday shows a 13 percent annual gain in August for home prices, but a sharp 2.6 percent drop from July to August. That's the largest monthly drop on record. "The forceful deceleration in U.S. housing prices that we noted a month ago continued in our report for August 2022," Craig J. Lazzara, Managing Director at S&P DJI, said in a media statement. “The -2.6 percent difference between those two monthly rates of change is the largest deceleration in the history

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Last updated : 25 October 2022 clock 05:44 PM

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US sees record slowdown in home prices ...Middle East

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